Expecting a momentum to 126.35 | 27 May 2022

27 May 2022, USD/JPY

Expecting a momentum to 126.35

Technical observation

USD pulled back to the resistance zone 127.50-127.41 but could not break above it, instead price bounced below the zone and since then it has been trading with an increasing bearish bias. I expect a continuation of this downwards movement to the supportive level 126.35 followed by either a clear break below it with a big red candle, or a rejection of price at it followed by another correction to the zone I mentioned earlier. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 126.35 and stop-loss at 127.96. I can only recommend bullish positions above the zone 127.50-127.41.

Trade recommendation

Remain short with your take profit at 126.35.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus